Jack Ma's Ant Financial adds two new money market funds to its platform

May 4, 2018 4:06 AM

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BEIJING (Reuters) - Chinese billionaire Jack Ma’s financial technology unicorn Ant Financial Services Group [ANTFIN.UL] is adding two new money market funds to its online wealth management platform Yu’e Bao, which is already the world’s biggest money market fund.

The decision to include two more funds on its platform will allow Ant Financial, an affiliate of e-commerce giant Alibaba Group Holding Ltd (BABA.N), to expand its consumer base at a time when its existing fund, managed by Tianhong Asset Management Co, is under heightened scrutiny by China’s regulat...

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